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Join the Securities Litigation and Enforcement Group on LinkedInSEC Rejects Grayscale’s Spot Bitcoin ETF Application
Grayscale Investments’ application to convert its $13.5 billion Grayscale Bitcoin Trust (GBTC) into a spot-based bitcoin ETF was denied by the SEC on Wednesday despite the company’s extensive efforts to win approval (Grayscale is owned by Digital Currency Group, which is also the parent company of CoinDesk). The SEC stated in its filing that the […]
FCA Says the Crypto Industry Doesn’t Want Them to regulate DeFi
Crypto advocates told the Financial Conduct Authority (FCA), the U.K.’s financial watchdog, that decentralized finance (DeFi) shouldn’t be regulated because it is too difficult to do so. In May, the FCA hosted its first two-day CryptoSprint, where 184 industry participants from the U.K. and other countries gathered to hear the FCA’s thoughts on how the […]
Crypto Loves Its Shadow Banks – Bloomberg
…If you are a person who invents a business like this, and you are able to do it for a year or two and squirrel away the $2.4 billion, it is very very good for you and you can buy yachts and stuff. But in the long run, if you are borrowing at 8% and […]
CEO Stock Sales Raise Questions About Insider Trading – WSJ
A Wall Street Journal analysis of 75,000 prearranged stock sales by corporate insiders, using a comprehensive compilation of the data, shows that about a fifth of them occurred within 60 trading days of a plan’s adoption. The timing in aggregate made the trades more profitable: On average, those trades preceded a downturn in share price […]